Alpha Media Loses Its CFO

John Lagana, Six-Year Vet of Dennis Publishing, Exits

NEW YORK (AdAge.com) -- In a surprising departure that may even turn out to be a defection, Alpha Media Group chief financial officer and chief operating officer John Lagana is leaving the company after nearly six years.

Alpha Media, the former Dennis Publishing, has undergone several changes since its acquisition by Kent Brownridge and Quadrangle Capital Partners in August, but most have been more predictable, such as Mr. Brownridge's decision to immediately close Stuff magazine.

Departure is unexpected
Mr. Lagana's departure, on the other hand, is unexpected, not only because Mr. Lagana had agreed to stay on after Dennis was sold, but because of his history with Mr. Brownridge. The two worked together for 14 years at Wenner Media, where Mr. Brownridge was Jann Wenner's longtime No. 2 and was the one who hired Mr. Lagana in the first place. Mr. Lagana jumped directly to Dennis in 2001.

Now Mr. Lagana's exit raises the intriguing possibility that he will return to his old employer, which has been exploring hiring a new high-level executive. Mr. Lagana has plenty of experience at Mr. Wenner's side; during his long stint at that company, he fulfilled responsibilities beyond the typical CFO's realm, including Mr. Wenner's private finances.

Mr. Lagana did not respond to a voicemail and an e-mail seeking comment today. A company spokeswoman confirmed his departure but declined to elaborate.

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Nat Ives

Nat Ives is executive editor at Ad Age, which he joined in 2005 as a reporter on the publishing beat. He previously helped cover the media and ad industries as a news assistant at The New York Times and reported on commercial real estate for Institutional Investor newsletters. He graduated from the Columbia University Graduate School of Journalism in 2001.